Judge approves $7M judgment vs. Mastro

U.S. Bankruptcy Court Judge Marc Barreca has entered a $7.1 million judgment against Seattle real estate developer Michael R. Mastro. Mastro also has agreed to pay the trustee's costs and attorneys’ fees for the proceeding.

The ruling by the Seattle judge ends the bankruptcy trustee's dispute with Mastro over assets that the trustee claims were shielded from creditors. But it does not end the trustee's lawsuits against Mastro's son, wife and business associates that amount to more than $20 million. The $7.1 million is tied to assets that bankruptcy trustee Jim Rigby alleges were improperly transferred into an irrevocable trust and a group of offshore limited liability companies in order to protect them from Mastro’s creditors.